Publisher's Synopsis
The Fund Industry: How Your Money Is Managed
"The authors have done a fabulous job in explaining all aspectsof mutual funds in a cohesive, reader–friendly work. With over 90million investors entrusting over $11 trillion to mutual funds andassuming more responsibility for their retirement, this book isquite timely. It should be required reading for allinvestors."
Andrew J. Donohue , former Director, Division ofInvestment Management, U.S. Securities and Exchange Commission
"This book will greatly enhance your understanding of the fundindustry. It describes how money is managed, how portfolios areconstructed, and how valuations are established; it provides toolsto help you research and compare funds, looking at theirperformance, risk and expenses, and it discusses the growingimportance of funds around the globe. It′s rare to find so muchuseful information in a single book."
Mohamed A. El–Erian , CEO and co–CIO of PIMCO; authorof When Markets Collide
"Don′t sit back and assume that someone else is managing yourmoney properly. Take the time to learn about money managers′incentives and the structures within which they operate anduse this to guide your thinking about whom you should trust and onwhat basis. I only wish we had such transparent and honestoperating instructions for the rest of the financial system."
Simon Johnson , coauthor of 13 Bankers ;Professor, MIT Sloan School of Management
"This is a great book written with informed knowledge andinsight, but also with grace and style. It is a must–read foranyone interested in the fund industry in Asia, Europe, and theUnited States."
Lord Myners , Former UK Treasury Minister
"Just as veteran stock fund managers prize their tattered copiesof Ben Graham and David Dodd′s Security Analysis, cominggenerations of fund industry leaders will cling to this essentialtext. There′s no other book that gives readers such a thoroughoverview of how the fund industry operates, its evolution, itsregulation, and what makes it tick."
From the Foreword by Don Phillips , Managing Director,Morningstar, Inc.
